We have bailed out the mortgage companies that brought us the foreclosure crisis, now the states and a federal government agencies are on the verge of a sellout buyout by the bad guys for fraudulent foreclosures. The Office of Comptroller of the Currency, or OCC, and the attorney generals for all 50 states are participating [...]
fraud
The bankruptcy trustee can sell assets you no longer own under his avoiding powers for the benefit of creditors. What, you say? If it isn’t mine, what rights do my creditors have in those assets? It all depends on how you parted with property as to whether bankruptcy law allows the trustee to recover the [...]
image credit: dreamstime Countrywide, number one offender, writer of the most sub-prime mortgages (the list goes on) admits bilking homeowners, in foreclosure, and even including those who had successfully completed Chapter 13 cases, usually filed to avoid foreclosure, out of tens of millions of dollars. The Department of Justice, through the United States Trustee’s [...]
Filing bankruptcy is usually an administrative process. Information is gathered, forms filled out, and there’s a brief hearing conducted by a trustee. But in some cases an “adversary proceeding” occurs. An adversary proceeding is essentially a case within a case. It’s a lawsuit within your case about something related to the bankruptcy case. All this [...]
Chapter 7 bankruptcy is a fairly quick process that generally lasts about four months after you file your case. Your case will be filed electronically. A few minutes after the case is filed, you will be given a hearing date. This hearing is called a 341 hearing (after section 341 of the Bankruptcy Code) or [...]
I wanted to share 13 tips from the FBI before filing bankruptcy. I often tell clients that lying to the court is a crime called perjury, but often they do not believe me. So many times you will hear of stories of debtors who filed bankruptcy and did not disclose assets such as a boat, [...]
